[DK Goel] Q 14 Accounting Equations Solutions CBSE (2024-25) Class 11

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Solution of Question number 14 Accounting Equations DK Goel class 11 CBSE (2042-25).

Give one example of each of the following transactions:

(I) Increase in an asset and a liability.

(ii) Decrease in an asset and a liability

(iii) Increase in assets and capital

(iv) Decrease in assets and capital

Solution:-

(I) Purchase of an asset on credit:- It will increase asset and also increase the creditors (liability) of asset.

(ii) Payment of a liability:- It will decrease cash (asset) and decrease the liability.

(iii) Capital introduced by proprietor:- It will increase cash (asset) and also increase the capital.

(iv) Drawings or Expenses:- Drawings or expenses will decrease (cash) and will also decrease the capital.

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Anurag Pathak
Anurag Pathak

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